Why is the cryptocurrency current market heading up in rate?

CRYPTOCURRENCIES these types of as Bitcoin, Dogecoin and Ethereum have had a bumper couple of months, frequently reaching file new rates.

But what is triggering these cost spikes and should investors be contemplating about moving into these incredibly volatile markets?

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Cryptocurrency prices are rising, but investors must be cautious

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Cryptocurrency prices are rising, but buyers must be cautiousCredit: Getty

On April 14, Bitcoin reached its optimum rate for the second working day operating, surpassing $64,000 for the very first time because the forex was invented.

In the meantime, the cost of Dogecoin hit a refreshing all-time higher on Might 5 as desire in the “joke” cryptocurrency grew much better.

And Ethereum’s cryptocurrency, ether, surged previous $3,000 for the initially time in May well much too, marking a 325% rise considering the fact that the starting of this yr.

Below we make clear why cryptocurrencies

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